CBRE Arranges 77,000 SF of Leases at 55 Broadway

CBRE announced today that it has completed several office leases totaling 77,000 sq. ft. at 55 Broadway in the last six months. The most recent new commitments were from AFS Intercultural Programs, Argus Research Group, Axon Health, and Meaden & Moore. In addition to the new transactions, several existing tenants executed renewals and in-building expansions, including Summit Management, 1000 Heads, Syscom, and Rozario Touma.

The CBRE team of Brad Gerla, Jonathan Cope, and Hayden Pascal represented ownership of 55 Broadway, along with Cordelia Meserow, Vice President of Asset Management at Harbor Group International, LLC, in the lease negotiations. Affiliates of Harbor Group International, LLC purchased 55 Broadway in 2014.

“55 Broadway experienced incredible leasing activity over the last six months with new commitments, renewals, and expansions all taking place within this Financial District gem,” said Gerla. “We are thrilled with the results and look forward to providing unparalleled office space to discerning tenants."

Notably, all four new tenants coming to 55 Broadway were relocating from office properties with plans for future residential conversion, an ongoing trend in the lower Manhattan market. “With residential conversions and very little new development in the area, high quality, well-located office buildings like 55 Broadway are only set to benefit from an increasingly supply-constrained submarket,” said Meserow, of Harbor Group International, LLC. “We are excited to welcome four new firms to the 55 Broadway community and to have strong re-commitments from our existing tenant roster.”

Built in 1982, 55 Broadway is a 32-story, Class A office tower totaling 360,000 sq. ft. and is located in the heart of New York’s Financial District.